In the rental world, losing a home to foreclosure is no longer a deal breaker.
“In the old days, we wouldn’t even rent to someone who had a foreclosure on their record,” says Jeffrey I. Friedman, president and chief executive of apartment company Associated Estates Realty Corp. Today, they’re “actually a targeted market.”
That company redesigned its applicant screening process, which used to exclude foreclosures. These days, losing a house doesn’t even require an additional security deposit if the applicant pays other bills on time and doesn’t have a history of rental evictions.
Your thoughts, would you rent to an individual that had a foreclosure?